Finance & Funding

Work is underway securing the finances for key highway projects in Brazil. The tender process for the US$1.72 billio Tamoios Highway project is now underway and the bids are due in mid-May 2014, according to Business News Americas. The project involves a 30 year concession package to operate and maintain the SP-99 Planalto and Serra stretches of the Tamoios highway, connecting the coastal cities of São José dos Campos and Caraguatatuba. The contract also involves 21.5km of road widening along the Serra stre

IronPlanet, the leading online marketplace for buying and selling used heavy equipment, is this week celebrating the 14th anniversary of its first auction. “We’re excited to celebrate 14 years of growth since our first online auction,” said Greg Owens, CEO, IronPlanet. “We have attracted more than one million registered users around the globe and sold more than US$3.5 billion of equipment over the Internet. Our success is based on our customers’ recognition that IronPlanet offers the industry’s most eff

The Costa Rican Government is paying compensation worth US$28.4 million for the cancellation of a highway concession package. The compensation relates to the San José-San Ramón highway concession and is being paid to the Brazilian construction company OAS, reports Business News Americas. This follows a legal dispute over the project and is some $10 million less than OAS originally claimed in compensation. The 30 year concession package was cancelled last year due to opposition. There were allegations of a c

The Mexican authorities have set out further details on the country’s ongoing infrastructure development plans. Mexico's Transport and Communications Secretariat (SCT) will commence the call for proposals process for highway projects worth a total of US$2.11 billion. The projects include the Paso Express de Cuernavaca, Tuxpan-Tampico highway, Ciudad Obrego by-pass and Barretal by-pass. They also include widening the Tlalpan and Puebla routes. Around $4.366 billion will be invested in roads in Mexico during

A major plan for infrastructure is being put forward for Chile. Chile's Construction chamber (CChC) has presented a plan for some US$40 billion in infrastructure improvements to the new Chilean Government. The CChC has highlighted the concession model as being the most effective tool for encouraging private investment in infrastructure. The CChC suggests that Chile has a critical need for infrastructure development, but a serious shortfall of public funds according to a report by Business News Americas. Roa

In Portugal work is restarting on the stalled Marao tunnel project. The Portuguese Government has assured financing from the EU to complete the necessary work for the 5.7km tunnel. The contractor working on the project originally hit financial problems, resulting in the work grinding to a halt and the Portuguese Government cancelling the contract with the original concession holder. The cost of the project has estimated at €204 million and the EU may finance up to €200 million of this. The package of works

The US Government has proposed an investment of some US$320 billion for repairs on roads and transit systems. The US president, Barack Obama, has suggested financing this four-year plan by revising how businesses are taxed and closing tax loopholes. Another proposal has been to revamp the tax code that allocated spending of $126.5 billion for infrastructure and highways. One other option includes increasing taxes on fuels used in trucks and cars to pay for the upgrades. In addition, Obama unveiled the comme